{"id":14722,"date":"2026-03-11T18:55:21","date_gmt":"2026-03-11T18:55:21","guid":{"rendered":"https:\/\/inernews.online\/?p=14722"},"modified":"2026-03-11T18:55:21","modified_gmt":"2026-03-11T18:55:21","slug":"iea-agrees-to-release-400-million-barrels-of-oil-from-strategic-reserves-energy-news","status":"publish","type":"post","link":"https:\/\/inernews.online\/?p=14722","title":{"rendered":"IEA agrees to release 400 million barrels of oil from strategic reserves | Energy News"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"\">\n<p class=\"article__subhead\"><em>Proposed release is larger than the 182 million barrels of oil that IEA \u200bmembers released after Russia invaded Ukraine in 2022.<\/em><\/p>\n<\/div>\n<div><button class=\"article-listen-container\" aria-labelledby=\"listen-text listen-duration\" data-testid=\"listen-to-article-button\"><\/p>\n<p><span class=\"article-listen-container__text\" data-testid=\"listen-to-article-text\">Listen to this article<\/span><span aria-hidden=\"true\">\u00a0|\u00a0<\/span><span class=\"article-listen-container__duration\">4 mins<\/span><\/p>\n<p><\/button><button tabindex=\"0\" class=\"tooltip-accessible_trigger\"><svg class=\"icon icon--info icon--main-grey-dark icon--16 listen-to-article-tooltip__icon\" viewbox=\"0 0 24 24\" version=\"1.1\" aria-hidden=\"true\" role=\"presentation\"><title>info<\/title><path class=\"icon-main-color\" d=\"M12 0a12 12 0 1 0 0 24 12 12 0 0 0 0-24Zm-.226 3.225a2.039 2.039 0 0 1 2.155 1.924v.193a1.998 1.998 0 0 1-2.155 2.149 2.029 2.029 0 0 1-2.146-2.15 2.039 2.039 0 0 1 1.955-2.122h.193l-.002.006Zm3.227 15.525a.75.75 0 0 1-.752.75H9.75a.75.75 0 0 1-.75-.75v-1.5a.75.75 0 0 1 .752-.75h.748V12h-.75a.75.75 0 0 1-.75-.75v-1.5a.75.75 0 0 1 .752-.751h3a.75.75 0 0 1 .75.752v6.75h.75a.75.75 0 0 1 .75.749L15 18.75Z\"\/><\/svg><\/button><\/div>\n<div>\n<div class=\"byline byline--no-avatars\">\n<div class=\"byline-content\">\n<p><span class=\"contributors-list__by-prefix\">By <\/span>Reuters<!-- --> and <!-- -->The Associated Press<\/p>\n<\/div>\n<\/div>\n<div class=\"article-dates\">\n<p><span class=\"screen-reader-text\">Published On 11 Mar 2026<\/span><span aria-hidden=\"true\">11 Mar 2026<\/span><\/p>\n<p><span>|<\/span><\/p>\n<p><span class=\"screen-reader-text\">Updated: 2 hours ago<\/span><span aria-hidden=\"true\">Updated: 2 hours ago<\/span><\/p>\n<\/div>\n<div class=\"rich-share\" data-testid=\"rich-share\">\n<div class=\"rich-share__wrapper\">\n<div class=\"rich-share__button-wrapper\"><button class=\"rich-share__button row\" aria-expanded=\"false\"><\/p>\n<p>Click here to share on social media<\/p>\n<p><svg class=\"icon icon--share2 icon--primary icon--16 \" viewbox=\"0 0 20 16\" version=\"1.1\" aria-hidden=\"true\"><title>share2<\/title><path fill=\"#000\" fill-rule=\"evenodd\" d=\"M11.688 9.048c-.659 0-1.252.282-1.673.733l-4.92-2.45c.016-.115.028-.232.028-.352 0-.117-.011-.23-.027-.343l4.913-2.423a2.285 2.285 0 0 0 1.68.739C12.964 4.952 14 3.899 14 2.6 14 1.302 12.965.25 11.688.25S9.377 1.302 9.377 2.601c0 .117.01.23.027.343L4.49 5.367a2.285 2.285 0 0 0-1.68-.739C1.536 4.628.5 5.681.5 6.979c0 1.299 1.035 2.35 2.312 2.35.659 0 1.252-.281 1.673-.731l4.92 2.45a2.357 2.357 0 0 0-.029.351c0 1.299 1.035 2.351 2.312 2.351S14 12.698 14 11.399s-1.035-2.35-2.312-2.35Z\" clip-rule=\"evenodd\"\/><\/svg><\/button><\/p>\n<p class=\"rich-share__social-text\">Share<\/p>\n<\/div>\n<\/div>\n<div class=\"google-preferred-source\"><button class=\"google-preferred-source__button\" aria-label=\"Add Al Jazeera on Google\" data-testid=\"google-preferred-source-button\"><svg class=\"icon icon--plus2 icon--primary icon--12 google-preferred-source__add-icon\" viewbox=\"0 0 24 24\" version=\"1.1\" aria-hidden=\"true\"><title>plus2<\/title><path fill=\"currentColor\" d=\"M10.571 13.429H3.43c-.405 0-.744-.137-1.018-.411A1.382 1.382 0 0 1 2 12c0-.405.137-.744.41-1.018.275-.274.614-.41 1.019-.41h7.142V3.428c0-.405.137-.744.411-1.018C11.256 2.137 11.595 2 12 2s.744.137 1.018.41c.274.275.41.614.41 1.019v7.142h7.143c.405 0 .744.137 1.018.411.274.274.411.613.411 1.018s-.137.744-.41 1.018c-.274.274-.614.41-1.019.41H13.43v7.143c0 .405-.137.744-.411 1.018-.274.274-.613.411-1.018.411s-.744-.137-1.018-.41a1.382 1.382 0 0 1-.41-1.019V13.43Z\"\/><\/svg><svg class=\"icon icon--google icon--primary icon--16 google-preferred-source__google-icon\" viewbox=\"0 0 17 16\" version=\"1.1\" aria-hidden=\"true\"><title>google<\/title><g fill-rule=\"evenodd\" clip-path=\"url(#a)\" clip-rule=\"evenodd\"><path fill=\"#4285F4\" d=\"M16.18 8.181c0-.567-.051-1.112-.145-1.636H8.5v3.094h4.305a3.68 3.68 0 0 1-1.596 2.415v2.007h2.585c1.513-1.393 2.386-3.443 2.386-5.88Z\"\/><path fill=\"#34A853\" d=\"M8.5 16c2.16 0 3.971-.717 5.295-1.939l-2.586-2.007c-.716.48-1.633.764-2.709.764-2.083 0-3.847-1.407-4.476-3.298H1.35v2.072A7.997 7.997 0 0 0 8.501 16Z\"\/><path fill=\"#FBBC05\" d=\"M4.024 9.519c-.16-.48-.251-.993-.251-1.52s.09-1.04.25-1.52V4.406H1.352A7.997 7.997 0 0 0 .5 8c0 1.29.31 2.513.85 3.593l2.674-2.073Z\"\/><path fill=\"#EA4335\" d=\"M8.5 3.182c1.175 0 2.23.403 3.058 1.196l2.295-2.294C12.467.793 10.656 0 8.5 0a7.997 7.997 0 0 0-7.149 4.407L4.024 6.48C4.653 4.59 6.417 3.182 8.5 3.182Z\"\/><\/g><defs><clippath id=\"a\"><path fill=\"#fff\" d=\"M.5 0h16v16H.5z\"\/><\/clippath><\/defs><\/svg><span class=\"google-preferred-source__text\">Add Al Jazeera on Google<\/span><\/button><button tabindex=\"0\" aria-label=\"See more of Al Jazeera\u2019s trusted journalism by adding us as a preferred source on Google.\" class=\"tooltip-accessible_trigger\"><svg class=\"icon icon--info icon--primary icon--16 google-preferred-source__info-icon\" viewbox=\"0 0 24 24\" version=\"1.1\" aria-hidden=\"true\"><title>info<\/title><path class=\"icon-main-color\" d=\"M12 0a12 12 0 1 0 0 24 12 12 0 0 0 0-24Zm-.226 3.225a2.039 2.039 0 0 1 2.155 1.924v.193a1.998 1.998 0 0 1-2.155 2.149 2.029 2.029 0 0 1-2.146-2.15 2.039 2.039 0 0 1 1.955-2.122h.193l-.002.006Zm3.227 15.525a.75.75 0 0 1-.752.75H9.75a.75.75 0 0 1-.75-.75v-1.5a.75.75 0 0 1 .752-.75h.748V12h-.75a.75.75 0 0 1-.75-.75v-1.5a.75.75 0 0 1 .752-.751h3a.75.75 0 0 1 .75.752v6.75h.75a.75.75 0 0 1 .75.749L15 18.75Z\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<div aria-live=\"polite\" aria-atomic=\"true\">\n<p>The International Energy Agency (IEA) has agreed to release 400 million barrels of oil from its members\u2019 strategic reserves, in an attempt to counter soaring global energy prices amid the United States-Israeli war on Iran.<\/p>\n<p>The proposed release is larger than the 182 million barrels of \u2060oil that IEA member \u2060countries released in 2022 \u2060after Russia launched its \u2060full-scale invasion \u2060of Ukraine.<\/p>\n<section class=\"more-on\">\n<h2 class=\"more-on__heading\">Recommended Stories<!-- --> <\/h2>\n<p><span class=\"screen-reader-text\">list of 3 items<\/span><span class=\"screen-reader-text\">end of list<\/span><\/section>\n<p>\u201cThe oil market challenges we are facing are unprecedented in scale, therefore I am very glad that IEA member countries have responded with an emergency collective action of unprecedented size,\u201d said IEA executive director Fatih Birol in a statement on Wednesday.<\/p>\n<p>\u201cWithout sufficient routes to market and with no more available storage, Middle East oil producers have started to reduce production,\u201d Birol said. \u201cAnd we have seen further attacks and damage to energy and energy-related infrastructure. Refinery operations have also been disrupted, with major implications for jet fuel and diesel supplies in particular.\u201d<\/p>\n<p>IEA member countries hold more than 1.2 billion barrels of emergency oil stocks, with a further 600 million barrels of industry stocks held under government obligation.<\/p>\n<p>Since the US and Israel launched their war on February 28, Iran has effectively closed the Strait of Hormuz, a crucial shipping route for oil produced by Gulf states, by threatening to attack shipping. About a fifth of global oil and gas supplies transit the waterway.<\/p>\n<p>In response to the US and Israeli attacks, Iran has also targeted oil fields and refineries in Gulf Arab states, aiming at generating enough global economic pain to pressure the US and Israel to halt the war.<\/p>\n<p>International benchmark Brent crude oil has surged more than 25 percent since the US and Israel launched the war on February 28.<\/p>\n<p>Earlier this week, Brent was trading at $119 a barrel, the first time oil was trading at more than $100 a barrel since 2022 in the wake of Russia\u2019s invasion of Ukraine.<\/p>\n<p>After the IEA announcement, Brent was trading at more than $90 a barrel, with analysts saying that the record release was insufficient to ease fears of further supply disruptions after attacks on ships in the Strait of Hormuz.<\/p>\n<p>The proposed release is roughly equal to about four days of global production and 16 days of the volume of crude that transits through the Gulf, Macquarie analysts estimated.<\/p>\n<p>\u201cIf that doesn\u2019t sound like much, it isn\u2019t,\u201d the analysts said in a note cited by the Reuters news agency.<\/p>\n<h2 id=\"record-release\">Record release<\/h2>\n<p>Germany and Austria said earlier that they would release parts of their oil reserves following an IEA request for members to release the record 400 million barrels to help temper energy price spikes due to the Iran war. Japan also said it will release some of its reserves starting on Monday.<\/p>\n<p>In a statement, the United Kingdom said it would contribute 13.5 million barrels of oil to the IEA release. South Korea also announced it would be contributing 22.46 million barrels of oil from its strategic reserves.<\/p>\n<p>During an interview with Fox News, US\u00a0Interior Secretary Doug Burgum welcomed reports of the planned release.<\/p>\n<p>\u201cThis is the perfect time to think about releasing some of those to take some pressure off of the global price,\u201d he said.<\/p>\n<p>However, he said he did not believe that the world was facing an energy shortage as a result of the war.<\/p>\n<p>\u201cWe\u2019ve got a transit problem, which is temporary,\u201d he said.<\/p>\n<p>\u201cYou have a temporary transit problem that we\u2019re resolving militarily and diplomatically, which we can resolve and will resolve,\u201d he added.<\/p>\n<p>While oil prices rebounded on Wednesday, analysts have said that the pace of daily IEA stock releases would be more important than the overall amount.<\/p>\n<p>The announcement came a day after Group of Seven (G7) energy ministers met Tuesday at IEA headquarters in Paris to look at ways to bring down prices. Birol said afterwards that they discussed all available options, including making IEA emergency oil stocks available to the market.<\/p>\n<p>The IEA reserves were established in 1974, following the Arab oil embargo, to respond to global oil supplies.<\/p>\n<\/div>\n<p><br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Proposed release is larger than the 182 million barrels of oil that IEA \u200bmembers released after Russia invaded Ukraine in 2022. Listen to this article\u00a0|\u00a04 mins info By Reuters and The Associated Press Published On 11 Mar 202611 Mar 2026 | Updated: 2 hours agoUpdated: 2 hours ago Click here to share on social media [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14723,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-14722","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-europe-news"],"_links":{"self":[{"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/posts\/14722","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14722"}],"version-history":[{"count":0,"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/posts\/14722\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/media\/14723"}],"wp:attachment":[{"href":"https:\/\/inernews.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}